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Kuwait, 19 May 2014 - The GCC Capital Markets Authorities Presidents Committee has held its tenth meeting on Monday, 19/5/2014. It was headed by Mr. Saleh Mubarak Al-Falah, President of the Capital Markets Authority’s Board of Commissioners, with the participation of representa-tives of all member countries, and the GCC Secretariat General.
Mr. Al-Falah started by greeting the guests and endorsing the committee’s agenda. Then the committee perused a brief presented by the Secretariat General regarding the financial resolutions issued by the Supreme Council in its thirty fourth meeting, which was held in Kuwait. The com-mittee also perused the minutes of meeting of the “Listing, Disclosure and Governance” work team which tackled the issue of submitting the final amendments of the unified rules of listing securities (shares, bonds, Sukuk) in the GCC financial markets to the presidents of the Capital Markets Authorities. Its decision was to refer such rules to the work team in order to discuss the mechanism of listing companies in the financial markets, and its compatibility with the unified rules of issuing securities in the Gulf countries. It also endorsed the team’s suggestions regarding the unified disclosure rules of securities and the unified principles of corporate governance in the GCC financial markets.
Additionally, the committee reviewed the report of the “Initial Public Offerings and Subscrip-tions in the GCC Financial Markets” work team, and decided to approve the reports related to following up the implementation of the unified rules for offering the shares in the GCC markets, and approving the teams suggestions regarding the same.
The committee also discussed the report of the “GCC Financial Markets Supervision and Regula-tion” work team, and gave its remarks in this regard.
Then it reviewed the updates and developments of the GCC financial markets through the re-ports submitted by the member countries about this issue.
Finally, the committee perused the Secretariat General suggestion regarding the importance of coordinating and unifying the GCC standpoints in the regional and international gatherings, and inviting the Secretariat General in coordination with the heading country to hold a coordinating meeting which shall be held simultaneously with the those meetings.
Title: The Tenth Meeting of the GCC Capital Markets Authorities Presidents Committee
Date Publish
19 May 2014
Kuwait, 19 May 2014 - The GCC Capital Markets Authorities Presidents Committee has held its tenth meeting on Monday, 19/5/2014. It was headed by Mr. Saleh Mubarak Al-Falah, President of the Capital Markets Authority’s Board of Commissioners, with the participation of representa-tives of all member countries, and the GCC Secretariat General.
Mr. Al-Falah started by greeting the guests and endorsing the committee’s agenda. Then the committee perused a brief presented by the Secretariat General regarding the financial resolutions issued by the Supreme Council in its thirty fourth meeting, which was held in Kuwait. The com-mittee also perused the minutes of meeting of the “Listing, Disclosure and Governance” work team which tackled the issue of submitting the final amendments of the unified rules of listing securities (shares, bonds, Sukuk) in the GCC financial markets to the presidents of the Capital Markets Authorities. Its decision was to refer such rules to the work team in order to discuss the mechanism of listing companies in the financial markets, and its compatibility with the unified rules of issuing securities in the Gulf countries. It also endorsed the team’s suggestions regarding the unified disclosure rules of securities and the unified principles of corporate governance in the GCC financial markets.
Additionally, the committee reviewed the report of the “Initial Public Offerings and Subscrip-tions in the GCC Financial Markets” work team, and decided to approve the reports related to following up the implementation of the unified rules for offering the shares in the GCC markets, and approving the teams suggestions regarding the same.
The committee also discussed the report of the “GCC Financial Markets Supervision and Regula-tion” work team, and gave its remarks in this regard.
Then it reviewed the updates and developments of the GCC financial markets through the re-ports submitted by the member countries about this issue.
Finally, the committee perused the Secretariat General suggestion regarding the importance of coordinating and unifying the GCC standpoints in the regional and international gatherings, and inviting the Secretariat General in coordination with the heading country to hold a coordinating meeting which shall be held simultaneously with the those meetings.
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